The Department of the Treasury has appointed Rodney Hood as acting comptroller of the currency and first deputy comptroller of the Office of the Comptroller of the Currency.
Hood, who assumes office immediately, replaces Michael Hsu, who served in the role since May 2021, OCC said Friday. The new appointee is responsible for managing the federal banking system and overseeing OCC operations.
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Effective Regulatory Environment
In a statement, Hood vowed to work for an effective regulatory environment, adding he he is committed to establishing a framework that “fosters innovation, expands financial inclusion, and ensures that all Americans have fair access to the financial services they need to thrive.”
Commenting on the appointment, Secretary of the Treasury Scott Bessent noted that Hood’s strong leadership and career experience “will strengthen the OCC’s efforts to ensure the safety and soundness of the banking system while also enhancing economic growth.”
Hood’s Career Highlights
Hood previously served under the first Trump administration as chairman of the National Credit Union Administration Board. While at the NCUA, Hood was a voting member of the Financial Stability Oversight Council, chairman of the NeighborWorks America Board and vice chairman of the Federal Financial Institutions Examination Council.
Before serving in the government, Hood worked in retail finance, commercial banking, affordable housing and community development. He earned a bachelor’s degree from the University of North Carolina at Chapel Hill.
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